The 68th Annual General Meeting of the Society was held
at the Garware Club, Churchgate, Mumbai on Thursday,
6th July 2017.
CA. Chetan Shah, President of the Society, took the
Chair. Since the required quorum was present, he called
the meeting in order. All businesses as per the agenda
given in the notice were conducted, including adoption of
accounts and appointment of auditors.
Mr. Suhas Paranjpe, Treasurer announced the results
of the election of the President, Vice President, two
Secretaries, Treasurer and eight members of the
Managing Committee for the year 2017-18. The names
of members as elected unopposed for the year 2017-18
were announced. He also announced the names of the co-opted members for the year 2017-18.
Later, the “Jal Erach Dastur Awards” for best feature and
best article appearing in BCAS Journal during 2016-17
were announced. The winners were: Dr. Anup P. Shah for
the best feature, and CA. Gautam Nayak/ CA. Pradip N.
Kapasi for best article.
The Special GST issue of the Journal of July 2017
exclusively on “GST Features” and BCAS Publication
Audit Checklist- 7th Enlarged Edition-July, 2017 were
released at the hands of Hon’ble Minister of State (IC) for
Power & Renewable Energy Mr Piyush Goyal at the 69th
Foundation day of the Society celebrated after the Annual
General Meeting of the Society.
At the end, guests including Past Presidents of BCAS were
invited on the dais to share their views and experiences
about the Society.
Outgoing President’s Speech
My colleagues on the dais,
Past Presidents, Ladies and
Gentlemen,
Good Evening members!
This is Spencer West.
There aren’t many people in the world like him. At the age of five
he tragically lost both his legs. But
the Canadian-born 31-year-old
defied all the odds and climbed
Mt. Kilimanjaro! This is a story of
determination, courage, focus,
perseverance and hard work. A
story of months of intensive training to overcome extreme
physical pressure.
What caught my eye is the message on his T-Shirt –
“Redefine Possible.” At BCAS, as we gather here on
our Founding Day, I believe we too have lived this motto.
As a group of dedicated volunteers, driven by a vision,
have travelled a long way to reach this … Founding Day.
So many people here, including my colleagues on the
Dias, have overcome situations when we were up against
the wall and we persevered, when there were moments
of frustration and we showed temperance, things often
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stayed the course. So many have given their personal
and family time and made these years and particularly the
last one year fruitful for members. As I stand here on my
last day as the President I can say that as we surmount we now have the confidence to DREAM BIGGER!
Having said that I would like to walk you through “The
News this Year,” and to make it a little more interesting I am going to give it a sports flavor.
So, let’s start at the beginning of the 67th Annual
General Meeting in July last year…when I was handed
OVER the torch, I chose to adopt a theme which was
close to my heart to be our guiding light for the year
ahead. The theme was “Today’s Vision, Tomorrow’s
Reality.” The wisdom contained in these four words
where influence by the famous twentieth-century poet,
painter and philosopher Khalil Gibran. He said, “We
are not limited by our abilities, but by our vision.” And I
realized that we need to focus on developing a powerful,
telescopic vision at BCAS, rather than merely looking at
our combined abilities.
To best understand how we proceeded with the task
ahead, let us look at the athlete who throws the javelin.
After scanning the vast sky above and the distant horizon,
he throws the javelin with all his arm and body muscles
working seamlessly.
At BCAS, we embarked on the task of discovering where
we want to go…and identifying what route should we take
to get there. We met on many occasions in managing
committee, other core committees and with past torch
bearers to draw up a suitable game plan. In the process
of planning, we gauged several untapped potentials and
even pinpointed any possible pitfalls. Some of the key
points that emerged at this stage were:
• Harness technology to enhance access to BCAS
• Explore new opportunities for members to learn
• Consolidate presence on national front
• Organize programs at the doorsteps of outstation
members
• Engage with related bodies to multiply reach
• Encourage and Empower students to be future
leaders and
• Make crisp and effective representations to ensure
our voice is heard in the decision makers’ corridors.
With these findings, we moved to the next phase where
we gained insights from the world of basketball. We
needed to proceed ahead dodging several obstacles such
as other commitments and numerous time constraints.
We also practiced more teamwork as we ‘passed’ the
assignment at hand to other members who were also
better ‘positioned’ to take it ahead. At this stage, we
learned how to seize opportunities and move towards
implementation of the plans by getting logistics in place.
We were now perfectly poised to take the LEAP (high
jump) … SPRINT AHEAD (100 meters)…or take the
PLUNGE (swimming)! And that’s what we did, moving
swiftly from one program to another is quick succession
with high-quality deliverables. And as you will shortly
see they were all gold performances…and some
more golden!
Now let’s take a look at the winners in no
particular order!
Quantum Leap – Technology Edge
BCAS took a quantum leap akin to long jump into the digital
arena which was an enabler to provide easy access to all
members. Live streaming technology for live webcast and
posting of our programs on YouTube channel has been
a boon to our outstation and distant suburb members to
view at their convenience. Facebook and LinkedIn are
increasingly used as a face of the society for important
updates. Payments can be made online and our website
has been revamped. An e-learning portal will be launched
shortly to extend training beyond geographic and time
boundaries.
Hitting Bulls’ Eye – Experts Chat
The target questions by the moderators were pointed
as in the game of Archery. Experts Chat was a new
game at the Society but Panelists, were veterans in
their knowledge reservoir, which was evidenced in their
profound replies and it developed into an excellent
knowledge sharing platform. Six Experts Chat sessions
held this year command equal marks as they all drew
increasing attendance and viewership.
BCAS RRCs – Each RRC is like 20-20 Cricket
Tournament where you learn so many subjects in a
short span of time.
The T20 matches was played at various locations domestic
and international. The Seminar Committee played at
Jaipur where the fiftieth edition of the RRC, the flagship
program of the society was conducted. It drew a record
275 participants from across India. The International
Taxation committee played at Sri Lanka. The first time
at an international location was the ITF Conference. The
Indirect Tax committee played it at Pune with more than
330 participants. The Accounting and Auditing committee
played IndAS RSC at Silvassa. The MPR Committee
played the Youth RRC at Alibaug jointly with ICAI. Each game was individually very well played by all
committees
Union Budget Lecture – Marathon Run
The Marathon run this year too was led by Senior Advocate
Shri S.E. Dastur who continued to wow the crowds with his
powerful presentation. His detailed analysis of the “Direct
Tax Provisions of the Finance Bill, 2017” was a remarkable
run witnessed by 3,000 avid listeners at the auditorium,
while over 10,000 watched it live from across India.
Besides the RRC being played at various locations
we chose not to play football within BCAS but jointly
with various other related organisations. Many joint
programs were conducted with other organizations
to reach out to a larger audience in Mumbai. Forum
of Free Enterprise, Chamber of Tax Consultants,
AIFTP, Indo- American, ISME…were some of the
organizations we worked with on these programs. The
game brought in a lot of cohesiveness in the game of
the profession.
The reach of the Olympics was far and wide this year.
Members at various locations invited us to conduct programs for the benefit of local. To be more inclusive
BCAS reached out to its outstation members with
programs in Ahmedabad, Kanpur, Indore, Aurangabad
and Kolkata. Medals were in the form of increased
membership and enrolment for RRCs.
The novel concept of Inter Committee Cricket Tournament
was executed with thorough excitement and fun this year.
To improve skill sets of its members the society took up
new initiatives. These are akin to introducing new games
to the Olympics. CAMBA a dedicated CA-MBA Course
jointly with ISME was launched to sharpen management
skills and call the shots at par with MBAs in the Society.
A Coach acts as a guide for every sportsman (Virat
Kohli may be an exception), anyway in the true spirit
of sportsmanship we continued the Mentorship program.
As the Society succeeded in playing different games
and enhanced its reach, it created its visibility which
made Organisations to join as FRIENDS of BCAS.
A new concept where various benefits are extended to members.
Role in Governance
The interaction by profession with the government is like
a game of tennis. There is always a rally between the
players which is healthy for developing good governance
The society made 16 representations to various
authorities…some were made jointly with other
organizations. IDS, ICDS, Rotation of Audit Firms and
GST were some of the key issues the society took up with
the government.
Welcoming Students
Sprint run by the society was for the benefit of students.
The run involved in mentoring and motivating students
and felicitating newly qualified CAs. The final dash
was 10th Jal Erach Dastur Students Annual Day where
talent bloomed at its best and brought together over 250
students.
BCAS disseminated knowledge to students at the NM
College and HR college.
Useful Publications
BCAS brought out a record number of 17 publications
this year. Referencer was the bestseller with over 5,000
copies. But the blockbuster is the BCAJ July special
issue with a print run off over 16,000 copies which will be
released today. There are two e-publications in Flipbook
format that are free for the members.
Education at BCAS
BCAS imparted knowledge through 40 Lecture Meetings
with a total participation of 9,084 people, 58 Seminars/
Courses/Workshops with a total participation of 7,065
people and a record 110 study circle/study group
meetings with total participation of 2552. These figures
exclude thousands who have seen the videos online.
This enabled to add 943 new members and our social media presence augmented. More statistics are in the
Annual Report.
On attending many of these meetings was itself a learning
curve for me. But the Flip side is that by attending so many
meetings I have formed a habit of eating chocolates and
sweets sitting behind the desk.
BCAS Foundation
The BCAS Foundation is the philanthropic expression
of the society. Thank you, members, for your large
heartedness which enabled BCAS to collect more than Rs.
20 lakhs for the noble cause of improving pediatric cancer
care to Tata Memorial Hospital! With their generosity, we
could contribute to the wellbeing of 120 children suffering
from this dreaded disease. However, we cannot rest on the
past laurels, and there is a lot we can do for such cause.
I again exhort all my fellow professionals to come forward
and contribute each one’s might to such a noble cause.
I now pass the baton to Narayan Pasari, the new President of BCAS and the new core group members and office bearers. I will definitely continue to stand and cheer for
Team BCAS, in fact run along as we keep raising the bar
and setting new records.
It is time to say a big thank you to the entire team that
has worked so tirelessly and painstakingly to make this
year’s performance so eventful and if I might add…
successful too!
Let me begin this ode of gratitude by expressing my
sincere thanks to the Past Presidents a few of whom were
at the helm of our nine sub committees. Their invaluable
insights and vast reservoir of experience are what keeps
driving the committees to push the limits…and excel.
As Chairmen and Co Chairmen of the sub committees
they have been a beacon of inspiration, enabling the
committees to grapple with many challenges; and win!
Let us have a round of applause for our hardworking
though silent Chairmen and their amazing teams.
Next, I must thank you my managing committee and the Office
Bearers who have diligently shared vital expertise and
invested long hours in planning and facilitating the smooth
flow of programs and events of the society. With all my
heart, I thank ……
Narayan who has an eagle’s eye for details that
compliments his exemplary admin skills in ensuring our
numerous programs run flawlessly.
Sunil has demonstrated credentials in the sphere of
IT besides GST and has played a pivotal role in the
Society’s IT initiatives, particularly now he is engaged in
the launching of e-learning platform.
Suhas who as Joint Secretary willingly devoted his time
and eagerly participated with many innovative suggestions.
Manish who as treasurer, kept an eye on the numbers
and helped all of us to stay in balance and perspective.
Please join me in thanking them with a round of applause.
Then there is the incredible BCAS Team comprised
of Jyoti Malkani who was with us until April as GM;
Shreya, Javed, Upendra, Nikhil, Rathi, Kawaljeet,
Bilal, Reema, Sachin, Baboo, Harish, Prakash, Mamta,
Rajaram, yes, the entire team and not to forget my
office boys. A big thank you for your unfailing and
unstinted support in keeping the wheels of BCAS
turning smoothly.
Last but not the least, I would like to thank all my partners
and my firm for backing me in my journey especially
Abhay, whose abundant wisdom and good judgment
helped me to chart new routes in the face of obstacles.
And how I can forget to thank my wife for bearing my
early exit and late entry to our abode, but she was
adequately cautioned by the PPs…
And special thanks to all the conveners, coordinators,
contributors, speakers, our publishers Finesse and
Spenta, sister organisations and asociations and wellwishers
who have together made BCAS shine bright this
year too.
It would be most inappropriate for me to end this
speech by saying goodbye…because goodbye sounds
so final, almost like closing a door… or escaping to
some remote place never to see each other again.
Instead, I would like to say Fare Well, not as in one
word, but as two words – Fare Well! Because I believe
the road for BCAS stretches a long way ahead…Yes,
there will be bumps and curves to navigate, but more
importantly, there will be many milestones to cross and
many mountains to conquer. And so, to everyone at
BCAS, starting with President Narayan, the Chairmen
& the managing committees and members, I wish you
all a heartfelt Fare Well!
Thank You!
Incoming President’s Speech
My President Chetan, Vice
President Sunil, Joint
Secretaries Manish and Abhay,
Treasurer Suhas, Respected
Past Presidents present and
in absentia, Members of the
Managing Committee, Core
Group Members and my dear friends
Let me start my innings by remembering my father
Late CA. R. G. Pasari whom I lost 5 years ago. He
would have been a really happy man today as he
always pushed me into the BCAS activities. This was
because he had worked with the likes of S. P. Mehtaji,
B. L. Kabraji and others who always had the highest
respect for BCAS. He also read the BCA Journal
regularly till his demise.
I recognize the presence of my mother Smt. Parvati
Devi who is the source of my strength after my father
and also other members of my family.
To reach at this prestigious position, I also thank my
principal Late CA. Mangalbhai Vatsaraj under whom I
completed my articleship, CA Pravinbhai Dharia (our
auditor) and CA. B. L. Sardaji under whom I also took
training post my articles. Thanks is also due to the
frms and the partners with whom I worked during the
last 2 and half decades.
As far as BCAS is concerned, a small peep into my
journey so far would be in order today. I became a
LIFE MEMBER in 1990 and started participating in
the activities thanks to two of our Past Presidents
CA Harish Motiwalla and CA Pradip Thanawala. I was
inducted into the Core Group of the Society in 1994-
95 and became a Committee Member in the Seminar
Committee. I was appointed a Convenor of this
Committee in 1996-97 for the ?rst time and have been
an integral part of this Committee for a fairly long time
till I became a Of?ce Bearer under CA. Nitin Shingala.
I served CA. Raman Jokhakar and CA. Chetan Shah
also during their Presidentship.
Before I leap into the future with some of the many
plans I have chalked out, I would like to take time
out to thank Chetan for his sincere and dedicated
service as President during the past year. It has been
a tremendous learning experience for me as I learnt
not to get fettered or limited by a lack of experience or
ability. Instead Chetan always encouraged us all to think
beyond and allow vision to be the defining force in all
our endeavors. In supporting Chetan over the last many
months I got invaluable exposure to multi-tasking and
problem solving.
So once again, let me welcome and thank you all for
coming here in such large numbers, and giving me
this opportunity to serve you as the 69th President
of the BCAS.
We are living in exciting times with considerable change
happening both in India and in the global arena. And
these numerous changes provide an array of challenges
and incredible growth opportunities for all of us.
In analyzing the Indian population we find it is comprised
largely of young people who are getting more and
more literate and educated. They are also earning a lot
more than in earlier years and have greater disposable
incomes. Their buying power and consumption are
playing a vital role in stimulating the markets and growing
the economy.
The indian economy has defied many hurdles to cross growth of over 7%. Stock exchanges have registered
soaring indices and high volumes of trading activity.
Foreign Direct Investment is pouring in…in fact we
are the number one destination for FDI in the world,
beating both united state and china. Confidence in
India’s economy is surging, thanks to the numerous
programs and reforms undertaken by the NDA
Government with Prime Minister Narendra Modi as its
driving force.
Keeping pace with the phenomenal growth in the Indian
market are the vast array of services and products. And
to ensure a level pending field that fair and free, Indian
companies have several new laws and compliances to
meet translating into enhanced business for all of us.
Globalization too is another stepping stone for all Indian
companies keen on getting more lucrative returns and
a package of benefits. Here again as volumes and
diversity of exports grow, we have vast potential to
harness greater business.
As President, I have given myself the task and
responsibility of facilitating BCAS’ growth. I believe that
if all of us put an arm to the wheel, we can make BCAS a
society that’s will be far more recognized and respected
within our profession and in financial circles.
Keeping this in perspective, I have drawn up a plan that
focuses on “Building Bridges”.
A bridge is a structure that is built over an obstacle to
provide connectivity. And building bridges is the underlying
theme of how I plan, with all of you, to take BCAS ahead!
Bridges connect us and help us to understand each
others challenges… they also enable us to figure out how
we can help each other and show that we appreciate one
another. Building bridges also helps to prevent isolation.
Because isolation can breed prejudice, misunderstanding,
mistrust; and impede effectiveness of working together.
I propose four main bridges and hope you will help me
in building them and BCAS!
1. TRANSFORMATION
High on my list of priorities is task of increasing the
resources of BCAS and growing the membership list.
I believe the Society needs to be more visible in order
to attract more members. On the resources front too,
we have to look at all possibilities of capitalizing on
the reputation and goodwill we already have. There is
plenty of knowledge and expertise within, which I think
can be leveraged to enhance the image of BCAS. With
the shrinking of the world to a global village we need to
explore options to benefits from this trend.
Let’s move to a sincere wish I have!
2. YUVA SHAKTI
The youth! They are our future and they can be the catalyst
of evolution in our Society. I look forward to encouraging
new blood to take up key roles. And to ensure that happens
I would like to implement special incentive schemes to get
more youth to join BCAS. Having done that I would also
like to ensure they get more opportunities and platforms
to express their ideas and vision. Recently, I heard about
the concept of “Shadow Committees” and I would like to
set up Yuva Shadow Committees. These groups of young
minds will think aloud fresh ideas and approaches on the
same challenges faced by the managing committee…and
I hope it will lead to some positive change.
3. DIGITIZATION
Digitization is not a fad or a passing trend that
some companies or individuals flaunt. Digitization
is essential…it has become the need of the hour!
With digitization we will be better empowered to
manage our resources and conduct our business.
I look forward to digitizing as much as I can of
BCAS’ operations and resources. A good start has
already been made in this direction and I would
like to add momentum to the entire process. In
addition to being able to disseminate knowledge,
we would be able to translate information into action
more effectively.
Finally I would like to tackle a relatively ignored activity of
our Society…
4. NETWORKING
Networking is a mantra that is much advocated by
many of the management gurus. At BCAS, I feel we
should work harder in this area. Be it the government,
corporate or fraternity level, we need to step up our
efforts. I hope we will be able to take some giant strides
in this area by organizing some events to reflect the
“Start Up India and Digital India” initiatives undertaken
by the government. We could even re-look at some
of events and tweak the format to include moments
of interaction and networking. Using our digitized
resources and media, we could reach out to a wider
audience and serve the members better. BCAS
could provide more platforms in the form of events
for networking among accountings firms. Networking
Power Summit is one format which could be organized
more frequently and modified to pave the way for
greater networking.
These are just some of my ideas that I have put
together to set the ball rolling. While I and my
colleagues remain open to various suggestions and
infact welcome it, I would like to call upon each one
of you to join us in this process of transformation
of society to the needs of the present times by
mobilizing the power of yuva-shakti & digitization
to build bridges for expansion by creating robust
networks. I am sure I will continue to receive the
same love and affection from you in this very important
journey of life.
Thank You
